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Czech billionaire Daniel Kretinsky invests in green energy

Daniel Kretinsky, known for his investments in fossil fuels, is diversifying his activities to include green energy and the distribution sector.

energynews
Le 2 April 2024

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Daniel Kretinsky, famous for his investments in fossil fuels, is diversifying into cleaner energies. The career of Daniel Kretinsky, a Czech billionaire whose fortune is estimated by Forbes at 9 billion, reflects a significant transition. The latter is expanding its investments from fossil fuels to distribution, media and biomass.

EPH in the European energy sector

Founded in 2009, Kretinsky’s EPH holding company has established itself as one of Europe’s leading energy companies, with over 70 businesses under its umbrella, including in France. In 2022, EPH has announced a net profit of nearly 3.8 billion euros. Although traditionally anchored in the coal sector, the Group plans to significantly reduce this dependence by 2025, by diversifying into electricity and gas distribution, as well as heat and power generation.

Biomass transition strategy

EPH acquired the French activities of the German energy group Uniper in 2019, including two coal-fired power plants: the Gardanne plant, converted into a biomass plant and commissioned in February 2023, and the Saint-Avold plant. The holding company also owns two gas-fired power plants in the Netherlands. In June 2022, EPH became the leading Czech company in terms of sales, overtaking carmaker Skoda. The company is thus positioned as an emerging player in industry and energy.

In addition to its energy investments, Kretinsky has broadened its portfolio by entering the retail sector with the acquisition of Casino, and the media and logistics sectors, reflecting its evolving investment strategy.

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